Can I retire at age 58 with 7,400,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$611,085$605,642$600,331$595,148$590,086$581,508
2 years$302,517$296,883$291,423$286,129$280,994$272,369
3 years$199,675$194,016$188,570$183,325$178,274$169,871
4 years$148,264$142,623$137,231$132,076$127,146$119,031
5 years$117,425$111,818$106,497$101,447$96,655$88,849
6 years$96,873$91,308$86,065$81,128$76,480$68,994
7 years$82,198$76,680$71,520$66,700$62,198$55,034
8 years$71,197$65,729$60,655$55,953$51,600$44,756
9 years$62,646$57,229$52,242$47,659$43,454$36,929
10 years$55,808$50,444$45,546$41,083$37,025$30,812
11 years$50,218$44,908$40,098$35,754$31,843$25,937
12 years$45,562$40,307$35,586$31,361$27,594$21,988
13 years$41,626$36,426$31,794$27,687$24,063$18,748
14 years$38,255$33,110$28,567$24,578$21,093$16,062
15 years$35,336$30,246$25,792$21,919$18,572$13,815
16 years$32,785$27,751$23,384$19,626$16,414$11,922
17 years$30,536$25,557$21,279$17,634$14,554$10,318
18 years$28,539$23,616$19,425$15,892$12,941$8,951
19 years$26,754$21,887$17,782$14,360$11,534$7,781
20 years$25,150$20,339$16,320$13,005$10,303$6,775
21 years$23,701$18,945$15,011$11,803$9,220$5,909
22 years$22,385$17,684$13,835$10,732$8,264$5,160
23 years$21,185$16,540$12,774$9,774$7,418$4,511
24 years$20,087$15,496$11,814$8,914$6,668$3,947
25 years$19,078$14,543$10,942$8,141$6,000$3,457
26 years$18,149$13,668$10,148$7,444$5,405$3,030
27 years$17,289$12,863$9,423$6,813$4,873$2,657
28 years$16,493$12,121$8,760$6,242$4,397$2,332
29 years$15,753$11,434$8,152$5,724$3,970$2,047
30 years$15,063$10,799$7,594$5,254$3,587$1,798
31 years$14,419$10,208$7,079$4,825$3,243$1,580
32 years$13,817$9,659$6,605$4,434$2,934$1,389
33 years$13,252$9,147$6,167$4,078$2,655$1,221
34 years$12,722$8,670$5,762$3,752$2,404$1,074
35 years$12,223$8,223$5,387$3,454$2,177$945
36 years$11,753$7,805$5,040$3,181$1,973$831
37 years$11,309$7,413$4,717$2,931$1,788$731
38 years$10,890$7,045$4,417$2,701$1,621$644
39 years$10,493$6,699$4,139$2,491$1,470$566
40 years$10,117$6,373$3,879$2,297$1,333$499
41 years$9,760$6,067$3,637$2,120$1,210$439
42 years$9,421$5,778$3,412$1,956$1,098$387
43 years$9,099$5,505$3,202$1,806$996$340
44 years$8,792$5,248$3,005$1,667$904$300
45 years$8,500$5,004$2,822$1,540$821$264
46 years$8,221$4,774$2,650$1,422$745$232
47 years$7,955$4,556$2,490$1,314$677$205
48 years$7,701$4,349$2,340$1,214$615$180
49 years$7,458$4,153$2,199$1,122$558$159
50 years$7,225$3,967$2,068$1,037$507$140

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $7,400,000, adding $6,289 every year, while hoping to spend $53,174 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 53/28/19 Blend
57$7,400,000$7,400,000$7,400,000$7,400,000
58$8,161,287$7,769,087$7,654,387$8,551,190
59$8,937,162$8,093,196$7,854,232$9,143,463
60$9,790,393$8,431,403$8,058,990$9,781,480
61$10,728,816$8,784,345$8,268,769$10,474,570
62$11,761,062$9,152,684$8,483,680$11,227,994
63$12,896,641$9,537,117$8,703,833$12,047,531
64$14,146,031$9,938,368$8,929,345$12,939,538
65$15,520,779$10,357,200$9,160,330$13,911,004
66$17,033,603$10,794,409$9,396,906$14,969,616
67$18,698,522$11,250,826$9,639,194$16,123,828
68$20,530,978$11,727,323$9,887,314$17,382,940
69$22,547,989$12,224,813$10,141,390$18,757,185
70$24,768,305$12,744,250$10,401,547$20,257,817
71$27,212,586$13,286,632$10,667,913$21,897,224
72$29,903,598$13,853,005$10,940,617$23,689,032
73$32,866,426$14,444,464$11,219,789$25,648,242
74$36,128,712$15,062,153$11,505,562$27,791,360
75$39,720,913$15,707,270$11,798,070$30,136,554
76$43,676,591$16,381,072$12,097,450$32,703,821
77$48,032,729$17,084,870$12,403,841$35,515,175
78$52,830,078$17,820,039$12,717,380$38,594,848
79$58,113,545$18,588,020$13,038,211$41,969,518
80$63,932,611$19,390,317$13,366,476$45,668,558
81$70,341,803$20,228,509$13,702,319$49,724,306
82$77,401,207$21,104,246$14,045,887$54,172,370
83$85,177,034$22,019,258$14,397,327$59,051,956
84$93,742,243$22,975,353$14,756,790$64,406,241
85$103,177,234$23,974,428$15,124,424$70,282,767
86$113,570,603$25,018,465$15,500,383$76,733,894
87$125,019,977$26,109,543$15,884,819$83,817,282
88$137,632,941$27,249,837$16,277,887$91,596,437
89$151,528,046$28,441,624$16,679,741$100,141,299
90$166,835,934$29,687,290$17,090,539$109,528,902
91$183,700,564$30,989,333$17,510,437$119,844,093
92$202,280,579$32,350,367$17,939,594$131,180,327
93$222,750,796$33,773,133$18,378,169$143,640,545
94$245,303,860$35,260,499$18,826,320$157,338,137
95$270,152,059$36,815,469$19,284,207$172,398,006
96$297,529,331$38,441,189$19,751,990$188,957,742
97$327,693,471$40,140,955$20,229,829$207,168,912
98$360,928,561$41,918,219$20,717,885$227,198,483
99$397,547,657$43,776,594$21,216,317$249,230,392
100$437,895,739$45,719,868$21,725,285$273,467,271